【700】Tencent's stock price and earnings drop nearly 1% to near a 52-week low; 3,500 buy orders queued at the 460 yuan price level

Tencent (00700)
Will announce its first-quarter results on May 13. Recently, Tencent’s stock price has been fluctuating downward, falling 0.9% to 460.2 HKD, hitting a 52-week low. Before the earnings release, over 3,000 buy orders queued at the 460 HKD level to buy the dip.

At 2:19 PM, Tencent had a total of 3,500 buy orders at the 460 HKD level, involving 902k shares or 410 million RMB.

According to Bloomberg data, the market consensus expects Tencent’s first-quarter revenue to be 199.27 billion RMB, a year-on-year increase of 10.7%; net profit attributable to shareholders is 57.77 billion RMB; and adjusted net profit is 67.62 billion RMB, up 10.3% year-on-year.

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